Disinflation Continues in November Core CPI Report

MarketBeat’s Dave Kansas sees nothing for the Inflationistas to latch onto in this morning’s reading:

In November, the CPI rose a scant 0.1%, giving consumer prices an anemic 1.1% rise during the last 12 months. The so-called core, which excludes food and energy, also rose 0.1%, for an annual rate of 0.8%. Both readings are well below the Federal Reserve’s target rate of 1.7% to 2%.

Reports like these keep the green light on for the “Students of the Depression” running monetary policy.

For discussion’s sake, Peter Boockvar at The Big Picture has a slightly more alarmed take on the report…

The absolute CPI price index (aka cost of living) is now at the 2nd highest reading on record at 218.88 seasonally adjusted, just a hair off the all time high of 219.10. The core rate, which the Fed loves to focus on, is at an all time record high.